The world of medical billing and coding is broader than you may think – so when considering salaries, it helps to start by understanding the many factors that may play a role in your compensation.
So, what makes up a medical billing and coding salary? Besides credentials and professional certifications, your salary can also be based on your location, years of experience, type of employer, job title and job responsibilities.
If you review the 2020 wage data from the Bureau of Labor Statistics (BLS), you’ll see that medical billing and coding salaries tend to be broad and varied, much like any other industry. When you research salaries using information from the BLS, it's important to understand both the high and low ends of the salary range instead of simply looking at an average.
If you're unfamiliar with how to read percentiles, think of it this way: if your salary falls in the 50th percentile, 50% of those employed in similar roles made more money than you and 50% made less.
Remember, it’s important to do your own research so you can understand your individual earning potential. Gaining a better understanding of the factors that can impact your medical billing and coding salary can help you set clear expectations for yourself as you outline your career goals and pursue job opportunities.